• The Echo Protocol attacker minted 1,000 fake eBTC worth $76.6 million.

  • The attack was a result of hackers compromising an admin’s private key.

  • Security researchers estimated actual losses near $816,000 due to weak liquidity.

Bitcoin DeFi protocol Echo Protocol suffered a major exploit after an attacker gained control of the protocol’s admin private key and minted 1,000 unauthorized eBTC on the Monad blockchain.

The fake mint carried a paper value of roughly $76.64 million. Most of the tokens remain stranded in the attacker’s wallet due to weak liquidity across Monad-based DeFi markets.

The exploit adds to a growing wave of DeFi attacks this month. May has already recorded at least 14 separate crypto hacks across protocols and bridges.

Attacker Used Fake eBTC as Loan Collateral

Blockchain investigators tracked the attacker’s movements shortly after th…

Read The Full Article Echo Protocol Hack Drains $816K After Fake eBTC Mint On Coin Edition.

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